Street One Financial LLC (S1F or Street One) is an independent entity affiliated with Precision Securities, LLC., a full service registered broker dealer and a member of FINRA/SIPC. Street One specializes in educating, evaluating and trading ETFs, equities and options. Our firm assists portfolio... More

Another claims report which was not great, but not drastically bad, did not ruin a good open to the Market. Many traders called it the 'Romney Rally'. The major indices moved close to their highs of the day in the first 45 minutes of trading and then slugged sideways for the remainder of the session. At the close, the DJIA was up 0.6%, the S&P gained 0.7%, and the Nasdaq100 up just 0.35%. Breadth was decidedly positive, 2.7 to1, but volume was once again extremely weak. This is the third session in a row that volume has been anemic. RSI's moved to the upside again and depict the near term gain in technical strength. ROC(10's) advanced in the session and the S&P's moved into positive territory. The Nasdaq100 which was not as strong as the other indices did manage to close above its 20D-SMA(2823). MACD's remain below signal, but are just catching up with the last near term upside moves. The bias near term, remains to the upside and the next headwinds are the recent highs. The recent closing highs were: DJIA-13596, S&P-1465, Nasdaq100-2864. Today's Employment Report will set the stage for how the Market goes into the weekend. The S&P closed a point below near term resistance of 1462 and is within 4 points of the recent closing high of 1465. These will pose resistance along with 1474-75. Near term support now sets up as 1449-50 and 1440. The Nasdaq100, while not as strong as the other indices, managed to get above its 20D-SMA and closed above the 2825 resistance level. Next level of resistance is 2837 and 2850. Downside support is 2823-25 and 2812. The VIX closed at 14.55, down 5.7%. Futures are up this morning versus fair value. Street One Financial WEBINAR-Using Low-Volume ETFs For Maximum Impact and Minimum Cost*November 07, 2012 2:00-3:00pm EDT Register here: https://www2.gotomeeting.com/register/981003234>

Major Economic Reports Today

Employment Report-8:30am Consumer Credit-3:00pm

DISCLAIMER LANGUAGE

ALL PRICES NOTED IN THIS PUBLICATION ARE AS OF THE CLOSE ON TRADING PRIOR TO TODAY'S DATE, UNLESS OTHERWISE INDICATED

This publication is neither an offer to sell nor a solicitation to buy any securities mentioned herein. The information contained herein is based on data obtainedfrom recognized sources that are believed to be reliable. Street One Financial LLC (S1F)have not independentlyverified the facts, assumptions and estimates contained in this publication. Accordingly, no representation or warranty, expressed or implied, is made as to,and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this publication. Theinformation contained in this publication is not and does not purport to be a complete analysis of every material fact respecting any company, industry, ETF orother security. Additional information concerning this publication may be available on request, if available. Many of the securities mentioned in this publicationinvolve a higher degree of risk and more volatility than the securities of more established securities. For these and other reasons, the investments discussed inthis publication may be unsuitable for investors depending on their specific investment objectives and financial position. Eachinvestor should complete his orher own additional investigation and assessment prior to making investments in any securities. Transactions in securities mentioned herein may be effected only in those states where such securities are qualified for sale. Street One Technical Analysis LLC is an independently owned Company from Street OneFinancial LLC (S1F). S1F is an independent Company specializing in ETF's, equities, and options. S1F specializes in agency ETF/ETP, equities, and options trade execution. On the ETF/ETP end, S1F may work with the ETF issuers to understandtheir products more thoroughly and how they can complement an investor's portfolio

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha
community. Instablog posts are not selected, edited or screened by Seeking Alpha editors,
in contrast to contributors' articles.

Most Commented

Posts by Themes

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.